Opening Bell 2.22.19

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The card, Goldman's first foray into plastic, will sync with cardholder's iPhones and Apple Pay. Testing will begin this week with a plan to launch by the end of the year. Features will include seamless (and never before seen) Apple Wallet analytics, so you can watch yourself spiral into debt in real time.

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The new card won't be the default in the iPhone's digital wallet, however. But it's not for lack of trying. Contracts with other Apple Pay partners forbid it. The move will undoubtedly strain relationships with other banks ... but that's showbiz, baby.

But why?

Apple and Goldman's combined experience in the credit card space spans ... minutes. But that doesn't mean the move doesn't make sense. Both companies are looking to expand their respective offerings ...

Following a less than stellar 2018, Apple is looking to its services sector to boost revenue. Bringing more users to Apple Pay might do the trick. Thanks a lot, China.

And Goldman is seeking to offset declines in its securities trading biz (... and cover its massive legal fees stemming from the 1MDB scandal) with its new online consumer bank, Marcus. With the Apple play, DJ D-Sol is hoping to recruit some Apple fanboys and girls.